Chinese billionaire disappears amid corruption crackdown

A tycoon known as China’s Warren Buffett has gone missing, prompting speculation that he has been ensnared by President Xi Jinping’s anticorruption campaign and causing shares in the Hong Kong-listed subsidiary of his company to be suspended.

China's largest private-sector conglomerate, Fosun Group, disclosed it has been unable to reach Chairman Guo Guangchang since noon Thursday.

Guo is China's 17th richest person with a net worth of $5.6 billion. It's unclear whether the 48-year-old disappeared because he has been detained on corruption charges or is helping authorities with their inquiries into others.

In the wake of Chinese stock tanking this year, the government has cracked down on local brokerage firms.

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